Calculation of Maximum Permissible Amount. Prior to determining a Participant’s 415(c) Compensation for the Limitation Year, the Employer may determine the Maximum Permissible Amount for a Participant on the basis of a reasonable estimation of the Participant’s 415(c) Compensation for the Limitation Year, uniformly determined for all Participants 415(c) Compensation for the Limitation Year. As soon as administratively feasible after the end of the Limitation Year, the Maximum Permissible Amount for the Limitation Year shall be determined on the basis of the Participant’s 415(c) Compensation for the Limitation Year.
Appears in 3 contracts
Samples: Basic Plan Document (Fairfax Financial Holdings LTD/ Can), Adoption Agreement (BRPP LLC), Adoption Agreement (Sonic Corp)
Calculation of Maximum Permissible Amount. Prior to determining a Participant’s 's 415(c) Compensation for the Limitation Year, the Employer may determine the Maximum Permissible Amount for a Participant on the basis of a reasonable estimation of the Participant’s 's 415(c) Compensation for the Limitation Year, uniformly determined for all Participants 415(c) Compensation for the Limitation Year. As soon as administratively feasible after the end of the Limitation Year, the Maximum Permissible Amount for the Limitation Year shall be determined on the basis of the Participant’s 's 415(c) Compensation for the Limitation Year.
Appears in 2 contracts
Samples: 401(k) Plan Document (Metals Usa Inc), 401(k) Plan Document (Metals Usa Inc)
